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;The 12-month period beginning before Jan. 1, 2023, isn’t taken into account.

The average pay increase for job switchers in 2021 was about 8% overall and over 12% in some sectors.

The tax credit ranges from 12.5% to 25% of wages paid to qualifying employees for up to 12 weeks of paid leave per tax year.

Despite these substantial investments, employee engagement has fallen to 31%, its lowest level in a decade, with 8 million fewer engaged workers since 2020, 4 and voluntary quits hold steady at roughly 3.2 million per month. 5 This incurs significant costs, as unengaged employees account for approximately $1.9 trillion in lost productivity nationally, 6-7 with the cost of replacing an individual employee ranging from a staggering 0.5x - 2x the employee’s salary. 8-9 Taken together, these patterns highlight a significant opportunity to rethink rewards through a more intentional, human-centered approach one that elevates the employee value proposition across the career lifecycle and recognizes that the beliefs that individuals have about their work (for example, whether they find it meaningful, feel they matter, and see growth opportunities; see Figure 1 ) determine whether those rewards translate into optimal business outcomes.

Industries Have Mixed Results Looking at employment by industry, the November data showed: ;Healthcare added 46,000 jobs, in line with the average monthly gain of 39,000 over the prior 12 months.

Over the past 12 months, average hourly earnings have increased by 3.8%.

In real life, we would go to happy hour at 6 p.m.

Only 6% of 595 organizations report being extremely effective at positively influencing employees’ benefits choices and behaviors.

A Closer Look at Overtime Compensation as an Issue During a Sept. 12, 2024, campaign stop in Tucson, Ariz., Trump pledged to eliminate taxes on overtime pay, saying such legislation could bring financial benefits to U.S. workers and provide more Americans with “an incentive to work.”

WorldatWork’s Total Rewards Conference Exhibition (Oct. 4 – 6) in Phoenix is the first event I’ll be attending since the pandemic started.